US Bancorp DE Purchases 110 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

US Bancorp DE grew its holdings in The Boston Beer Company, Inc. (NYSE:SAM) by 67.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 272 shares of the company’s stock after purchasing an additional 110 shares during the quarter. US Bancorp DE’s holdings in Boston Beer were worth $82,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Entropy Technologies LP acquired a new stake in Boston Beer in the fourth quarter worth $368,000. Legato Capital Management LLC bought a new position in shares of Boston Beer during the 4th quarter worth about $1,966,000. Merit Financial Group LLC acquired a new stake in shares of Boston Beer in the 4th quarter valued at about $434,000. Point72 Hong Kong Ltd bought a new stake in Boston Beer in the 3rd quarter valued at about $1,746,000. Finally, Barclays PLC raised its stake in Boston Beer by 44.2% during the 3rd quarter. Barclays PLC now owns 12,988 shares of the company’s stock worth $3,753,000 after buying an additional 3,983 shares during the period. 81.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SAM shares. StockNews.com downgraded Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Roth Mkm reissued a “buy” rating and set a $349.00 target price (down from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Morgan Stanley lowered their price target on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Piper Sandler dropped their price objective on Boston Beer from $275.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Finally, Citigroup reduced their target price on shares of Boston Beer from $335.00 to $290.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $293.40.

Boston Beer Stock Performance

Shares of NYSE:SAM opened at $228.24 on Tuesday. The company has a market capitalization of $2.57 billion, a P/E ratio of 33.56, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. The company’s 50-day moving average is $243.37 and its 200 day moving average is $277.04. The Boston Beer Company, Inc. has a fifty-two week low of $222.27 and a fifty-two week high of $339.77.

About Boston Beer

The Boston Beer Company, Inc produces and sells alcohol beverages primarily in the United States. The company's flagship beer is Samuel Adams Boston Lager. It offers various beers, hard ciders, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.